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No. Those stimulus payments in 2020, EIP1 and EIP2, were not a Disaster Relief Distribution.
No. Those stimulus payments in 2020, EIP1 and EIP2, were not a Disaster Relief Distribution.
No, this is not the stimulus checks- this would be for a distribution you received from a retirement account. If this was not you, you do not have to wait to file!
For the CARES Act, there were special rules to help Americans.
The distributions generally are included in income ratably over a three-year period, starting with the year in which you receive your distribution. For example, if you receive a $9,000 coronavirus-related distribution in 2020, you would report $3,000 in income on your federal income tax return for each of 2020, 2021, and 2022. You also do not have to pay the early withdrawal penalty.
I had my suspicions... Thank you for the confirmation.
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